Blog

VA Loan vs Conventional Loan

There’s some confusing information out there about the VA loan program. If I’m an eligible veteran, should I finance my home purchase with a VA loan? Is a conventional mortgage a better deal for me? Does a VA loan have higher costs? Spoiler alert: the VA loan program is virtually always the best option for…

FAQs about the USDA Rural Development Program

The USDA Rural Development (RD) Program is one of our most asked-about loan programs. With eligible towns in all 99 counties in Iowa, it’s not hard to see why!  What is an RD Loan? USDA Rural Development loans are available to buyers looking to purchase a home in a community with a population of 20,000 or less.…

Why Choose RMN When the Market is Hot

Why choose RMN when the market is hot?! Plain and simple: You don’t have to do our job! We are efficient, organized, experienced and we care about deadlines. From pre-approval to closing and beyond, we are here for our clients and business partners!  Pre-approvals We issue pre-approvals that are solid! We require documentation up front…

Closing Costs in Cedar Rapids

Are you thinking of buying or refinancing in Cedar Rapids? Curious about closing costs? We can answer that question! Closing costs are, in general, the costs to get a loan file from application to closing. Down payment is separate from closing costs and is your investment in the property while closing costs are fees to…

Iowa First-Time Home Buyer Programs

Buying your first home in Iowa can be very expensive and frightening if you have no idea of the available funding you can take advantage of. The entire process would likely include financial conversations and situations you may have never encountered before. Fortunately, the Iowa Finance Authority has created programs for first-time homebuyers. Iowa Finance…

The Average Cost to Buy a Home in Cedar Rapids

Are you moving to the Cedar Rapids area and entering the market to find your dream home? Here at Residential Mortgage Network, we have been offering residents of Cedar Rapids home loans since 1987, and are ready to lend some guidance! A Little Background on Cedar Rapids Living Cedar Rapids is the second-largest community in…

Closing Cost Assistance For Veterans: Understanding the $5000 Iowa Military Homeownership Assistance Program

Every November, we take time to honor the many servicemen and women who’ve worn the uniform of our armed forces. As veterans, they’ve earned our gratitude and respect. Their service has also earned them access to various veterans’ benefits, which include home loan guarantees from the Department of Veterans Affairs (VA). This $5,000 grant for…

Refinancing Your Home: The Pros and Cons

Interest rates are at a historic low and buyers are taking advantage. It’s also the perfect time to refinance! Can’t decide whether or not you should refinance? Take a look at the pros and cons: Pros: Lower Monthly Payment or Loan Term Those who are refinancing now are cutting their monthly mortgage payments by hundreds…

Tips for First Time Home Buyers During A Pandemic

Buying your first home is one of the most exciting and rewarding journeys in life, but can also be a little scary and overwhelming, especially during a pandemic. Because the housing market has seen enormous growth due to historically low-interest rates, many individuals are looking to buy, sell, or refinance their homes this year during…

Tiny Treasures: The Tiny Home Movement

Ever heard of something called the tiny home movement or tiny homes in general and wondering what this entails? We’re going to give you the rundown on all things pros and cons about tiny homes. It’s The Little Things The first thing to know about the tiny home movement is that it follows a social…